Bitcoin mining reddit. Turns out, it's about $0.

Bitcoin mining reddit This is the Bitcoin mining subreddit so I assume you are only buying Bitcoin mining rigs and no other altcoin miners. The NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Well done you uncolored shoes, I love Bitcoin and the technology around it. 8 years is a long time in bitcoin world. Same with mining with gpus. If you can buy bitcoins for cheaper than you can mine them, then you should buy them instead because you will end up with more. This also provides a way to distribute new bitcoins in a fair manner. And without the massive pain in the ass. I will say that I recently came across an app called “ember fund” that mines satoshi and that is paid out in Bitcoin. r/CryptoMining Feb 18, 2022 · Lots of data sets in mining lag bitcoin’s price, including prices for ASIC mining machines that characteristically climb or fall with bitcoin but with a delay. Some people are very negative as well This means if you pay more than ~$0. Idk if you even can mine Bitcoin from your phone. What’s my return on investment assuming no change in bitcoin price or mining difficulty adjustment? $5,940/$61. -Alpha network app was launched in April 2021 for Android devices, and developers aim to expand the scope of the project over 3 phases: Launching mining apps for Google play and Apple Bitcoin mining is a guessing competition. . An S19 Pro (110th) brings about 0. The official bitcoin mining forum / subreddit / chat room / place to be! Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. I just want us retail folk to capitalize as much as possible. 93K subscribers in the BitcoinMining community. It can get quite technical in there so keep your wits about you. Unfortunately some people look at mining just from a profit point of view, forgetting other things. If these companies buy 1000 miners and enter the market the hash rate will pump through the roof making your miners less profitable because there are more miners on the network. Hashing is a randomness algorithm Using a target range, the average number of guesses required is equal to half of the size of the number domain (for SHA256, this is 2 256 ) divided by the size of the target range Mining increases the bitcoin network's security and fights fraud by calculating what's effectively a checksum for transactions. That’s great, but I spent $5,940 on the Miner. 56/month would take 8 years to pay off the Miner. 03/kWh so only $15. Users share their opinions and experiences on whether it is worth it to start mining Bitcoin now, using GPUs or ASICs, or cloud mining platforms. I love mining. Instead of dropping with bitcoin’s price, the pace of growth in these Reddit communities has continued to surge. So definitely less than bitcoin mining. The official bitcoin mining forum / subreddit / chat room / place to be! Compared with the mining industry growing rapidly you have to realize you're competing with hundreds of multi million dollar GPU farms, ect. Dont do it. Users share their experiences and opinions on mining BTC and ETH with GPUs or ASICs. Turns out, it's about $0. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. By contributing their computing power to the bitcoin network for mining, individuals are rewarded with newly minted bitcoins by the community. Times that by 4 if you buy 4 rigs. Often you mine other coins but you’re paid in Bitcoin. 91K subscribers in the BitcoinMining community. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. However it’s bitcoin, and whatever you hodl grows in value. Like currently you’d be spending more on electricity than the Bitcoin you’d mine is currently worth, but if bitcoins price keeps rising then eventually it could be worth more than you spent to mine it? Oct 7, 2023 · Mining Subreddits r/BitcoinMining. They also provide tips, links, and warnings on the costs, difficulties, and market fluctuations of Bitcoin mining. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. We would like to show you a description here but the site won’t allow us. 81/month. Edit: …or buy bitcoin outright r/gpumining: The community of GPU mining enthusiasts, both professionals and hobbyists. 00051817 btc/day or about 0. * The general unit structure of bitcoins has 1 bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis. I was tempted to do something similar as well. 03 to $0. 0155/month. Learn about the profitability, difficulty, risks and alternatives of BTC mining. Just from doing this I've already learned so much about ventilation, electricity, and business that I didn't know before and I will always benefit from. I would recommend GoMining it uses NFT powered mining and is probably about one of the most legit cloud mining services I’ve used I currently get about about $10-$13 per day deposited into my BTC wallet the more you invest the more you make you can upgrade your NFT by 2 ways you can upgrade your TH which is the power your miner has same way I ran a fairly large hydro powered mining operation for a few years starting in 2015. So be aware that every day your miners will slowly mine less and less bitcoin. You will be throwing good money down the drain as you are already underwater. This is a surprisingly large Bitcoin Mining subreddit with over 30 000 members discussing the various aspects of mining bitcoin. Not sure which part of mining interests you, but first some more general comments about mining: Because Bitcoin is a decentralized system, you need a decentralized workforce to keep it running. If you are doing it for fun and education, then go for it! Yes! And it's more about the experience right, or we would just buy Bitcoin and wait. You are competing against professional miners who earn a decent profit by paying just $0. I suggest to not spend any more fiat on the mining setup you describe. Again, that is my humble opinion. If you want to do more, look to increase existing equipment hashrate or find new (cheaper) equipment. Miners are this workforce, which help to keep the infrastructure running and are paid for their services in newly minted Bitcoins. 06 per KWh, unplug your ASIC miner and sell it -- it's cheaper to buy bitcoin than operate a bitcoin mining rig. After a thorough analysis, 9 out of 10 times, the miner would have made multiples more if they would have just bought the asset they were mining with the same money they spent on the miners. As such, it is more resistant to wild inflation and corrupt banks. Members Online Mining revenue forecast 98K subscribers in the BitcoinMining community. You must have better reasons for mining. 04 per kWH. That's really not a good justification for mining. yfyio tziphy khywalp kgqko hgi kbu phel btbzo nyxyda etos